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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Scott who wrote (6725)	2/9/1998 9:49:00 PM
From: Scott	Read Replies (2) \| Respond to of 16892

I was reading the Mutual Fund help, and I was wondering something. (This question is not specific to Datek.) I was wondering if it is feasible to daytrade a no-load fund. Since the NAV is calculated at the end of the day, can't I tell whether tomorrow's price will be higher or lower based on today's market (especially in an index fund)? Why can't I wait until the afternoon of an up day, and purchase a fund based on a price that was calculated the day before, and then sell it the next day knowing that the price will be higher? What am I missing here? Scott